Florida Construction Company (FCC) and Anfaak Qatar Limited (AQL) had the following information: 2014 2015 2016 2017 Costs incurred during each year 104,167 100,000 160,417 64,583 Estimated costs to complete 866,667 783,333 708,333 530,000 Progress billing during the year 562,500 260,417 354,167 Cash collected during the year 479,167 312,500 354,167 229,167 291,667 276,042 192,708 213,542 151,042 2018 83,333 236,458 253,125 312,891 161,849 348,333 665,104 205,000 130,000 73,438 2019 2020 2021 2022 103,646 75,000 208,724 49,479 0 149,870 Required: 1. Discuss some of the challenges that face accountants worldwide when conducting international transactions. (3 Marks) 2. Assuming that the US GAAP is adopted, describe the methods of recognizing revenue when there is significant uncertainty in cash collectability for installment sales (whenever it is possible, support your answer with empirical illustrations)